PROCEPT BioRobotics (NASDAQ:PRCT) Now Covered by Analysts at Stephens

Stephens started coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT - Free Report) in a research note published on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $70.00 price target on the stock.

Several other brokerages have also weighed in on PRCT. Wall Street Zen raised shares of PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Oppenheimer initiated coverage on shares of PROCEPT BioRobotics in a research report on Monday. They set a "market perform" rating on the stock. Bank of America lowered their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Truist Financial lowered their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, PROCEPT BioRobotics has a consensus rating of "Moderate Buy" and a consensus target price of $87.50.

PROCEPT BioRobotics Stock Performance

Shares of PRCT traded down $2.56 during trading hours on Wednesday, hitting $56.65. The company had a trading volume of 548,062 shares, compared to its average volume of 845,471. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -33.32 and a beta of 1.07. The business has a fifty day moving average of $58.27 and a 200-day moving average of $63.08. PROCEPT BioRobotics has a 12 month low of $47.04 and a 12 month high of $103.81. The company has a quick ratio of 7.75, a current ratio of 8.95 and a debt-to-equity ratio of 0.13.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.04. The company had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. PROCEPT BioRobotics had a negative net margin of 36.20% and a negative return on equity of 28.09%. The company's revenue was up 55.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.51) earnings per share. Equities analysts anticipate that PROCEPT BioRobotics will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the transaction, the director directly owned 14,363 shares of the company's stock, valued at $883,180.87. This trade represents a 63.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 100,000 shares of company stock valued at $6,271,250. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On PROCEPT BioRobotics

Several hedge funds have recently bought and sold shares of the company. Diversified Trust Co increased its holdings in PROCEPT BioRobotics by 66.2% in the 2nd quarter. Diversified Trust Co now owns 11,947 shares of the company's stock valued at $688,000 after buying an additional 4,760 shares during the period. Mirador Capital Partners LP acquired a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at approximately $431,000. Harbor Capital Advisors Inc. acquired a new stake in shares of PROCEPT BioRobotics in the 2nd quarter valued at approximately $2,413,000. Militia Capital Partners LP acquired a new stake in shares of PROCEPT BioRobotics in the 1st quarter valued at approximately $816,000. Finally, Osterweis Capital Management Inc. boosted its stake in shares of PROCEPT BioRobotics by 98.0% in the 1st quarter. Osterweis Capital Management Inc. now owns 173,735 shares of the company's stock valued at $10,122,000 after purchasing an additional 85,990 shares in the last quarter. 89.46% of the stock is owned by institutional investors.

PROCEPT BioRobotics Company Profile

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).